12 April Gold daily Elliott wave analysis 2h FRAME

12 באפר׳ 2017

The chart above shows one of the most likely ways price can move in the coming days. This forecasts an ending diagonal wave (v) ending of the impulse wave. We have seen on this platform how effective diagonals can be if they play out as a terminating end of a reversal pattern. A dip to 1264-67 could be seen before the last leg upside. If price completes this pattern as forecast, a break below the lower trendline could trigger a bearish reversal. This is a possibility and price can move in other ways but this is of high likelihood.